Press Release By The Board Of ODU’A Investment Company Limited

Press Release By The Board Of ODU’A Investment Company Limited
The attention of the Board of Directors of Odu’a Investment Company Limited has been drawn to a recent paid advertorial on Page 5 of The Nation Newspaper of Wednesday, April 19, 2017 by Chief (Dr) Isaac F. Akintade(immediate past Chairman of ODU’A) in which malicious , defamatory and libelous allegations were made.

The Board of ODU’A hereby dissociates itself from the said publication as it represents the personal views/submission of Chief Isaac Akintade who has ceased to be a member of the Board with effect from 22nd March 2017. The Board of ODU’A is made up of experienced and responsible members who are committed to directing the affairs of the Company in line with International Best practices, Corporate Governance Principles and the provisions of Companies and Allied Matters Act 1990.

The allegations of Chief Akintade are unfounded, baseless and unjustifiable as the issues referred to in the publication are unverifiable allegations, distortion of facts and a calculated attempt to discredit the Board particularly the person of the Group Managing Director. The issues were deliberated upon at Board Meetings chaired by Chief Akintade and collective decisions were taken in the best interest of the Group.
The Board would not and did not condone any infringement on Corporate Governance Principles. The Board was not involved in any fraudulent practice, misappropriation or deceit of Shareholders. The Board is committed to repositioning the entire ODU’A Group and introducing new businesses that would bring the ODU’A Group out of the stagnation of the past and return to profitability.

In the interest of our organization, we would not join issues with Chief Akintade on the pages of Newspapers. Response to all wild allegations has been sent to our Shareholders and critical Stakeholders.
The general public is hereby advised to discountenance the advertorial of Chief Akintade and be assured that our Conglomerate, ODU’A INVESTMENT COMPANY LIMITED is on the right track to recovery as the engine room for economic development of South West Nigeria.

Signed:
Chief Segun Ojo
CHAIRMAN – Board of Directors
ODU’A INVESTMENT COMPANY LIMITED


Comments

  1. Hello! Cool post, amazing!!!

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